Joint Payment Guarantee
In the first configuration according to the present invention, a Joint Payment Guarantee settlement system includes a unit for transferring to the payee and the Joint Payment Guarantee Service Provider the money information containing the JPG settlement mechanism agreement certificate, which is settled upon one of two conditions being satisfied: either the delivery of goods has been accepted as executed by the payer, or the expiration of the time limit between the delivery of a valid invoice (settlement request) from the payee to the payer. In the former case, a unit is included for transferring settlement to the payee. In the latter case, a unit is included for transferring settlement to the JPG Service Provider, to be held in a unit, containing account information, by the JPG service provider. In this latter case settlement sent to the JPG service provider initiates an additional JPH release mechanism in the settlement mechanism. Alternately to the JPH release mechanism, and described as a separate configuration, a LT JPH release mechanism may be employed.
The JPH release mechanism includes a unit for transferring to the payer and the payee money information containing the JPH release mechanism agreement, which is settled when the payee and the payer agree to all terms of the release agreement. The JPH release mechanism contains a unit for final settlement of the money information when the release mechanism agreement has been executed.
In the above described configuration, the payer can indicate the payer's future payment capacity, to the payee, according to the money information contained in the Joint Payment Guarantee settlement mechanism agreement when the payer purchases goods and/or services. The bank or financial service organization of the payer shall, in addition to the promise of payment by the payer, guarantee the payment amount shall be sent to the JPG service provider, should the payer fail to send payment within the agreed time period after receipt of the payee's settlement request. The payee, in combination with the JPG service provider, can thus secure a future payment with a reduction in collection risk. The payee can initiate extraction of the settlement amount from the payer by submitting a valid settlement request.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
The money information containing the JPG settlement information settled upon receipt of a properly authorized execution request is generated by the payers financial institution. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the payee or to confirm that payment has been released to the payee, and, in the alternative, the conditions which must be satisfied in order to release payment to the JPG service provider.
With the above described configuration, the payee can confirm, with the authentication of the payer's financial institution, that the payer's financial institution has reserved that portion of the payer's credit facility equal to the settlement amount, and can confirm the money information containing the JPG settlement information settled upon receipt of a properly authorized execution request. Therefore an object item (providing goods, services, etc.) can be executed on a future date without dependence on extension of unsecured credit by the payee to the payer, and settlement payment and payment withholding for the same can be assured without dependence on the payee's personal or corporate reputation.
It is desired that the money information containing the JPG settlement information includes authorization information about the authorization authority and procedure for receipt of objects for which payment is made. When the money information containing the JPG settlement information includes the authorization authority and procedure information for receipt of objects for which payment is made, the payer's financial institution can confirm necessary information according to more detailed information at the final settlement and effectively avoid paying a settlement in response to an illegal settlement request. Further, it prevents a payer and/or a payee from using the JPG settlement information for a transaction other than that agreed by both parties.
Open Credit
In the second configuration of the present invention, an Open Credit settlement system includes a unit for transferring to the payee the money information containing the OC settlement mechanism agreement certificate, which is settled upon one of two conditions being satisfied: either the delivery of goods has been accepted as executed by the payer, or the expiration of the time limit between the delivery of a valid invoice (settlement request) from the payee. For both the former and the latter cases, a unit is included for transferring settlement to the payee.
In the above described configuration, the payer can indicate the payer's future payment capacity, to the payee, according to the money information contained in the OC settlement mechanism agreement when the payer purchases goods and/or services. The bank or financial service organization of the payer shall, in addition to the promise of payment by the payee, guarantee the payment amount shall be sent to the payee, should the payer fail to send payment within the agreed time period after receipt of the payee's settlement request. The payee, can thus secure a future payment with a reduction in collection risk. The payee can initiate extraction of the settlement amount from the payer by submitting a valid settlement request.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
The money information containing the OC settlement information settled upon receipt of a properly authorized execution request is generated by the payer's financial institution. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the payee.
With the above described configuration, the payee can confirm, with the authentication of the payer's financial institution that the payer's financial institution has reserved that portion of the payer's credit facility equal to the settlement amount, and can confirm the money information containing the OC settlement information settled upon receipt of a properly authorized execution request. Therefore an object item (providing goods, services, etc.) can be executed on a future date without dependence on extension of unsecured credit by the payee to the payer, and settlement payment for the same can be assured without dependence on the payee's personal or corporate reputation.
It is desired that the money information containing the OC settlement information includes authorization information about the authorization authority and procedure for receipt of objects for which payment is made. When the money information containing the OC settlement information includes the authorization authority and procedure information for receipt of objects for which payment is made, the payer's financial institution can confirm necessary information according to more detailed information at the final settlement and effectively avoid paying a settlement in response to an illegal settlement request. Further, it prevents a payer and/or a payee from using the OC settlement information for a transaction other than that agreed by both parties.
Joint Payment Hold
In the third configuration of the present invention, a Joint Payment Hold settlement system includes a unit for transferring to the payee and the Joint Payment Guarantee Service Provider the money information containing the JPH settlement mechanism agreement. The JPH settlement agreement is, in the first stage, settled on the condition that the JPG SP has properly executed a settlement request. In the second stage, settlement to the payee from the JPG SP is achieved on the condition that payee and the payer have jointly properly executed a settlement request.
For the first stage, the money information containing the JPH settlement information settled upon receipt of a properly authorized execution request is generated by the payers financial institution. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the JPG SP.
In the second stage, the money information containing the JPH settlement information settled upon receipt of a properly authorized execution request is generated by the JPG SP's financial institution. This settlement may be made to the payee, the payer, or a portion to both, according to the joint payee and payer settlement request. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the payee.
With the above described configuration, the payee can confirm with the authentication of the payer's financial institution that the payer's financial institution has reserved that portion of the payer's credit facility equal to the settlement amount. and can confirm the money information containing the JPH settlement information settled upon receipt of a properly authorized execution request. Therefore an object item (providing goods, services, etc.) can be executed on a future date without dependence on extension of unsecured credit by the payee to the payer, and reservation of the amount of the settlement payment for the same can be assured without dependence on the payer's personal or corporate reputation.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
It is desired that the money information containing the JPH settlement information includes authorization information about the authorization authority and procedure for receipt of objects for which payment is made. When the money information containing the JPH settlement information includes the authorization authority and procedure information for receipt of objects for which payment is made, the payer's and the JPG SP's financial institutions can confirm necessary information according to more detailed information at the final settlement and effectively avoid paying a settlement in response to an illegal settlement request. Further, it prevents a payer, JPG SP, and/or a payee from using the JPH settlement information for a transaction other than that agreed by all parties.
Long Term Joint Payment Hold
In the fourth configuration of the present invention, a Long Term Joint Payment Hold settlement system includes a unit for transferring to the payee and the Joint Payment Guarantee Service Provider the money information containing the LT JPH settlement mechanism agreement. The LT JPH settlement agreement is, in the first stage, settled on the condition that the JPG SP has properly executed a settlement request. In the second stage, incremental settlement to the payee from the JPG SP is achieved on the condition that both the payee and the payer have jointly properly executed an incremental settlement request.
For the first stage, the money information containing the LT JPH settlement information settled upon receipt of a properly authorized execution request is generated by the payers financial institution. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the JPG SP.
In the second stage, the money information containing the LT JPH settlement information settled upon receipt of a properly authorized execution request is generated by the JPG SP's financial institution. It is desired that the money information contains data about the time and object information which must be satisfied in order to release payment to the payee.
With the above described configuration, the payee can confirm with the authentication of the payer's financial institution that the payer's financial institution has reserved that portion of the payer's credit facility equal to the settlement amount, and can confirm the money information containing the LT JPH settlement information settled upon receipt of a properly authorized execution request. Therefore an object item (providing goods, services, etc.) can be executed on a future date without dependence on extension of unsecured credit by the payee to the payer, and reservation of the amount of the settlement payment for the same can be assured without dependence on the payer's personal or corporate reputation.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
It is desired that the money information containing the LT JPH settlement information includes authorization information about the authorization authority and procedure for receipt of objects for which payment is made. When the money information containing the LT JPH settlement information includes the authorization authority and procedure information for receipt of objects for which payment is made, the payer's financial institution can confirm necessary information according to more detailed information at the final settlement and effectively avoid paying a settlement in response to an illegal settlement request. Further, it prevents a payer, JPG SP, and/or a payee from using the LT JPH settlement information for a transaction other than that agreed by all parties.
Credit Check
In the fifth configuration of the present invention, a Credit Check verification system includes a unit for transferring to the payee and the Joint Payment Guarantee Service Provider the money information containing the Credit Check mechanism agreement.
With the above described configuration, the payee can confirm with the authentication of the payer's financial institution that the payer's financial institution has reserved that portion of the payer's credit facility equal to the credit check amount.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
This configuration may be used to create the credit reservation for one of the other configurations of the present invention.
Blended Payment
In the sixth configuration of the present invention, a Blended Payment settlement system, includes a unit for transferring to the payee, the Joint Payment Guarantee Service Provider and, if required, a third party, the money information containing the BP settlement mechanism agreement. It is desired that the BP settlement agreement contains money, time and object information detailing the type of subsidiary mechanism agreement or agreements which are part of the blended settlement agreement. Using the information contained in the BP agreement, all or parts of the payment amount or amounts are settled using, individually or collectively, JPG, OC, JPH, LT JPH, and 3rd party agreements which are specified in the BP settlement agreement.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.
Pro-Forma
In the seventh configuration of the present invention, a Pro Forma planning system includes a unit for transferring to the payee and the Joint Payment Guarantee Service Provider the money information containing the PF planning mechanism agreement.
It is desired that the money information contained in the PF planning agreement include time and object information which would have to be satisfied in order to release payment to the payee, should the PF agreement be transcribed verbatim into below mentioned configurations of this invention.
With the above described configuration, the payee and the payer can jointly plan future settlement agreements in accordance with the JPG, OC, JPH, LT JPH, CC and BP configurations of the present invention. Furthermore, when properly authorized to do so, this configuration may be structured to activate a certificate or registration of a certificate of the aforementioned types upon the receipt of properly authorized time and object information specified in the pro-forma certificate.
The final settlement guarantee is, in the above described configuration, issued by both the payer, and the bank or financial institution of the payer. The portion of the guarantee issued from the payer is a form of trade credit. The portion of the guarantee issued from the bank or financial institution of the payer, where it underwrites the guarantee of the payer, is a form of contingency in credit.